DAQO New Energy Corp. (NYSE:DQ) Receives Average Recommendation of “Hold” from Brokerages

Shares of DAQO New Energy Corp. (NYSE:DQ) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.4267.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a research note on Friday, March 27th. Glj Research cut shares of DAQO New Energy from a “buy” rating to a “sell” rating and dropped their target price for the company from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Finally, New Street Research set a $18.13 price target on shares of DAQO New Energy in a report on Tuesday, February 3rd.

DAQO New Energy Price Performance

Shares of NYSE DQ opened at $21.29 on Tuesday. The business has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $27.13. The stock has a market capitalization of $1.43 billion, a PE ratio of -8.38 and a beta of 0.80. DAQO New Energy has a fifty-two week low of $12.40 and a fifty-two week high of $36.59.

DAQO New Energy (NYSE:DQ) last released its earnings results on Monday, March 2nd. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $221.71 million for the quarter, compared to analyst estimates of $276.94 million. DAQO New Energy had a negative return on equity of 2.92% and a negative net margin of 25.62%. On average, equities analysts expect that DAQO New Energy will post -3.5 EPS for the current year.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of DAQO New Energy in the 3rd quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of DAQO New Energy during the 2nd quarter worth $29,000. Farther Finance Advisors LLC boosted its stake in DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in DAQO New Energy in the fourth quarter valued at about $49,000. Finally, Banque Cantonale Vaudoise bought a new position in DAQO New Energy in the fourth quarter valued at about $55,000. 47.22% of the stock is currently owned by institutional investors.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.